User Account

All Pages

Consumer indifference curve

Assignment Help Business Economics
Reference no: EM131586959

a) Given a consumer's preferences are rational and well-behaved, how do I know the consumer's indifference curve must be downward sloping?

b) Assuming that a consumers preferences are rational and well-behaved, explain why indierence curves can't cross.

Reference no: EM131586959

Questions Cloud

How you decompose the polygon into triangles : (Donated by David Cox) Consider any convex polygon with at least four sides and decompose it into triangles by connecting vertices.
How is the definition of private property a critical part : Prepare a 3 page paper using APA format discussing how the Coase Theorem provides an alternative to government regulation and provision of services
Calculate the firm ratio of long-term debt : A firm has $100 million in current liabilities, $200 million in total long-term liabilities, $300 million in stockholders' equity, and total assets of $600.
Explain the importance of roles within an organization : Write a 1 paragraph introduction to briefly explain an organization's structure and roles.Explain the importance of roles within an organization.
Consumer indifference curve : Given a consumer's preferences are rational and well-behaved, how do I know the consumer's indifference curve must be downward sloping?
Can you figure out what white duck error was : Prove or give a counterexample: Every multiple of 6 that is greater than or equal to 12 is the sum of two consecutive primes. (For example, 30 = 13+17).
What demographic information is needed : What must you do to effectively negotiate a contract that will earn the group a profit? What demographic information is needed?
Calculate his profits and return on invested capital : Six months later, the value of copper is $3.70 per pound. Patrick invested $5,000. Calculate his profits and return on invested capital
Determine the stage of kohlbergs moral development : Examine Kohlberg's stages of moral development. Determine the stage of Kohlberg's moral development that your current, or past, organization.

Reviews

Write a Review

Business Economics Questions & Answers

  Illustrate what is standard inconsistent cost

Illustrate what is standard inconsistent cost. Illustrate what is the marginal cost.

  Changes on quantity demanded of health insurance

Explain the effect of the following changes on the quantity demanded of health insurance.

  The firm do to reduce costs but maintain the same output

If a firm is producing where MPx/Wx > MPy/Wy, where x and y are the two inputs to theproduction process, what can the firm do to reduce costs but maintain the same output? Explainyour answer both intuitively and graphically.

  If average total cost is equal to marginal cost

Which of the following is probably the best example of a sunk cost? If average total cost is equal to marginal cost. Joseph can initially produce 10 pizzas or 5 cakes. After some training from a pizza-making expert, his opportunity cost of making (a)..

  Suppose that the equilibrium nominal exchange rate

Suppose that the equilibrium nominal exchange rate is 130 Japanese yen to the U.S. dollar. If the Federal Reserve wishes to maintain an exchange rate of 140 Japanese yen to the U.S. dollar, it must meet the private excess ________ dollars in the fore..

  Structuring problems of risk in mining and transporation

Structuring problems of risk in mining and transporation

  Excess capacity is problem in monopolistic competition

Excess capacity is a problem in monopolistic competition because if there were fewer firms in the industry: The model of monopolistic competition characterizes a city's market for plumbing services. Suppose that the market is initially in long-run eq..

  Considering getting involved in electronic commerce

A company is considering getting involved in electronic commerce. A modest e-commerce package is available for $29,000. If the company wants to recover cost in 2 years, what is the equivalent amount of new income that must be received every 6 months ..

  Marginal utility of the fifth unit

Cole has $27 that he plans to spend purchasing 5 units of good X (priced at $3 per unit) and 6 units of good Y (priced at $2 per unit). The marginal utility of the fifth unit of X is 30, and the marginal utility of the sixth unit of Y is 30.

  Derive the supply curve for individual firm

Derive the supply curve for this individual firm. If market price is equal to p=50 what quantity would be supplied? There are only 10 firms in the market. Derive market supply curve. Assume demand is given by: P=100-Q. What would be the equilibrium p..

  Two markets differ in their demand for the firms product

The following shows the demands and marginal revenue in two markets, 1 and 2, for a price discriminating firm along with total marginal revenue, MRT, and marginal cost MC. Compare the demand conditions in each market; i.e. how do the two markets diff..

  Desirable to have regressive tax structure

Explain why it might be desirable to have a regressive tax structure, even if the social welfare function is utilitarian, when general equilibrium effects of taxes are taken into account. Would it ever be desirable to impose a negative marginal tax r..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd